BES 001 Review
BES 001 Review
BES 001 Review
Reviewer
1. How long must a P40,000.00 note bearing 4% simple interest run to amount to
P41,350.00?
a.340 days
b.403 days
c.304 days
d.430 days
3. A hollow block making business can produce 15000 pieces a week. Their
operation manager determined that in order to achieve this production, they
need to spend P 90000 weekly on raw materials, electricity, labor and
transportation. The company also pays a fixed amount of P 10000 weekly.
Determine their profit if they run at 80% efficiency.
a. P 29960
b. P 35995.56
c. P 34677.80
d. P 35790
4. A man pays his debt in the following manner: P1000 after 1 year, 900 after
2 yrs., 800 after 3 years and so on up to 6th year. Find the accumulated
amount of these payments at the rate of 10% compounded annually.
a. P7000.00
b. P6000.88
c. P6000.00
d. 7997.89
6. A machine costs P1.5M. It has a salvage value of P600000 at the end of its
economic life. What is the machine’s economic life if the book value at the
end of 2 years is estimated to be P948037.50 using declining balance method.
a. 3
b. 4
c. 5
d. 6
10. A man borrows P 100,000 at 10% effective annual interest. He must pay back
the loan over 30 years with uniform monthly payments due on the first day of
each month. How much is the monthly payment?
a. P 870.00
b. P 846.00
c. P 878.00
d. P 839.00
11. A man borrowed P10,000.00 from his friend and agrees to pay at the end of
90 days under 8% simple interest rate. What is the required amount?
a. P11,200.00
b. P10,200.00
c. P9,500.00
d. P10,700.00
13. If P1,000 becomes P1,811.36 after 5 years when invested at an unknown rate
of interest compounded bimonthly, determine the unknown nominal rate and
the corresponding effective rate, respectively.
a. 12%, 12.616%
b. 6%, 12%
c. 10%. 10.562%
d. 13%, 13.256%
15. A man purchased on monthly installment a P 100,000 worth of land. The interest
rate is 12% nominal and payable in 20 years. What is monthly amortization?
a. P 1,101.08
b. P 1,121.01
c. P 1,152.15
d. P 1,128.12
16. You need P 4,000 per year for four years to go to college. Your father
invested P 5,000 in 7% account for your education when you were born. If you
withdraw P 4,000 at the end of your 17th,18th, 19th, and 20th birthday, how much
would be left in the account at your 21st birthday?
a. P 2,400
b. P 2,500
c. P 1,700
d. P 4,000
18. What payment “x” ten years from now is equivalent to a payment of Php 1000.00
six years from now, if interest is 15% compounded monthly?
a. P560.50
b. P1815.35
c. P506.35
d. P1618.25
20. Some future amount F is equivalent to P2,000 being received every six months
over the next 12 years. The nominal interest rate is 20% compounded
continuously. Find the value of F.
a. P185,000
b. P187,000
c. P189,000
d. P191,000
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